The International Monetary Fund on Tuesday boosted its forecast for Brazilian gross domestic product expansion in both 2017 and 2018. The IMF, in its quarterly report on global economic conditions, forecast growth in Brazil this year of 0.7%, up from a 0.3% forecast in the fund’s previous report in July. For 2018, the IMF boosted its forecast to 1.5% growth from 1.3% as of July. The report said a surge in agricultural production was one reason for the more optimistic forecast. Rising exports also helped. Lower inflation, meanwhile, has brought lower interest rates. The IMF, however, continued to warn of political uncertainties ahead. The fund also recommended more severe controls over government spending in an effort to reduce the nation’s rising debt-to-GDP ratio.
Link to IMF releaseMore Testimonials